Foreclosures Approach Normal Level

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Posted To: MND NewsWire

Foreclosures are, at long last, approaching what CoreLogic says was the level in the pre-crisis environment . The company’s November National Foreclosure Report puts the number of foreclosures completed during the month at 26,000, down from 35,000 in November 2015 and only 4,000 more than in a typical month during 2000 to 2006, a difference nearly identical to the decline in completed foreclosure from October to November. November foreclosures were down 78.2 percent from the peak of 118,339 in September 2010. Since the financial crisis began in September 2008, there have been approximately 6.5 million completed foreclosures nationally. Since homeownership rates peaked in the second quarter of 2004, approximately 8.6 million homes have been lost to foreclosure. The five states with the highest…(read more)

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